Time value Personal Finance Problem As part of your financial planning, you wish to purchase a new car 5 years from today. The car you wish to purchase costs $17,000 today, and your research indicates that its price will increase by 3% to 6% per year over the next 5 years. a. Estimate the price of the car at the end of 5 years if inflation is (1) 3% per year and (2) 6% per year. b. How much more expensive will the car be if the rate of inflation is 6% rather than 3%? c. Estimate the price of the car if inflation is 3% for the next 3 years and 6% for 2 years after that. . (Round to the nearest a. The price of the car at the end of 5 years, if inflation is 3% per year, is $ cent.) The price of the car at the end of 5 years, if inflation is 6% per year, is $ . (Round to the nearest cent.) b. At the higher rate of inflation, the car is more expensive by $ . (Round to the nearest cent.) c. The price of the car at the end of 5 years, if inflation is 3% for the next 3 years and 6% for 2 years after that, is $ (Round to the nearest cent.) MP Enter your answer in each of the answer boxes